SF Express To Spin Off Financial Services Units Before Back-Door Listing

China's largest express delivery firm S.F. Express, backed by CITIC Capital Holdings Ltd., Oriza Holdings and China Merchants Group, is to spin off its financial services units before it proceeds with a back-door listing in Shenzhen.

S.F. Express will sell its holdings in its micro-credit, custodian and financial leasing unit to third parties, in a move aimed at avoiding regulatory uncertainties as Chinese regulators have tightened their grip on listings of Internet finance firms and on reverse merger IPOs.

Internet finance firms have been prohibited from listing on local stock exchanges or the country's New Third Board, while their listings on A-share bourses are uncertain. A few such companies have seen their applications denied by regulators lately.

It is also possible that S.F. Express is carving out its financial services units ...



This news article comes via , who is the copyright owner of this information and news. FintekAsia.com has licensed the rights to this article and any republication or re-distribution in whole or in part of this content is strictly prohibited without the express consent of China Money Network

You May Also Like